According to information disclosed by Planet Blue Beverage, $60,000 was subscribed by one investor on March 20th 2014. Planet Blue Beverage capped the non-brokered equity financing at $500,000. An additional $440,000 in funding is to be raised until the offering draws to a close in March 2015. The equity offering’s estimated net proceeds will amount to $495,000 which excludes $5,000 to be paid toward officers’ salaries. The company is filing for the first time a security registration exemption with the SEC.
The company designed a sport drink called “Pro Motion” Thirst Quencher that has a lower sodium and higher potassium content than competitive drinks. The company plans on releasing six flavors including lemon-lime, fruit punch, orange, raspberry, grape fury and blueberry. The beverage is non-carbonated, fortified with Vitamins B3, B4, B5 and B7, and will be offered in full and zero calorie. According to the company’s website the drink uses high fructose corn syrup as its sweetener.
The company, headquartered in Granbury TX, is led by E Mike Flowers (President). No revenues were reported by the company.
The executive team includes George Michael Towery.
Status: First close
Company: Planet Blue Beverage
Amount offered: $500,000
Amount placed: $60,000
First sale: 03-20-2014
Data as of: 04-02-2014